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首页> 外文期刊>International Journal of Accounting Research >The Impact of Corporate Governance Practices on Corporate Financial Performance in Ethiopia
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The Impact of Corporate Governance Practices on Corporate Financial Performance in Ethiopia

机译：公司治理实践对埃塞俄比亚公司财务业绩的影响

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This research was carried out to examine the impact of corporate governance practices on share companies’ financial performance by using panel regression approach. Data sources from 24 share companies for five years. The findings of robust FGLS estimation of panel regression using ROA and ROE as measures of financial performance revealed board of directors’ gender diversity (BDGD sig. at 5%) and size of share companies (SIZE sig. at1%) have a positive association with return on assets and board of directors meeting attendance rate (BDMAR) in person has a positive association but not significant. The board of directors’ size (BS sig. at 5%), board of directors meeting frequency (BMF sig. at 5%) and board of directors’ leadership practice (BDLPR sig. at 1%) have a negative impact on return on assets. The paper also empirical findings ROE has a significant and positive association with board meeting frequency (p<0.05); board of directors’ gender diversity (p<0.05) and size of share company (p<0.01). And board of directors meeting attendance rate in person has a significant and negative relationship with ROE (p<0.01). However, no significant but negative association was found between ROE with board size and board of directors’ leadership practice. State ownership has also a positive association with ROA as well as ROE. The model is good fit with R-square value of 84 and 93% for model one (ROA) and two (ROE) respectively. The study concluded that corporate governance practices of Ethiopian share companies are not going on the way what it should be in line with the changing landscape of corporate business environment for the reason that boards of directors elected and working in companies lack true independence and the required skills and knowledge. Awareness gap as to corporate governance; mal-governance practice in recruitment and selection, lack of up to date regulatory framework; absence of specific policy framework, national principles and codes results unstructured governance practices to be practiced. All these cause the problem of ethics, disclosure and transparency, corruption, nepotism, tribalism etc. and this research can be extended further by incorporating variables that can show the external corporate governance practices and other sectors.
机译：这项研究是使用面板回归方法来研究公司治理实践对股份公司财务业绩的影响的。五年来来自24家股份公司的数据源。使用ROA和ROE作为财务绩效指标对面板回归进行FGLS稳健估计的结果表明，董事会的性别多样性（BDGD基准为5％）和股份公司的规模（SIZE基准为1％）与资产回报率与董事会亲自出席率（BDMAR）呈正相关，但不显着。董事会规模（BS评分为5％），董事会会议频率（BMF评分为5％）和董事会领导实践（BDLPR评分为1％）对投资回报率有负面影响资产。本文还根据经验发现ROE与董事会会议频率有显着正相关（p <0.05）;董事会的性别差异（p <0.05）和股份公司的规模（p <0.01）。董事会亲自出席率与ROE呈显着负相关（p <0.01）。但是，在ROE与董事会规模和董事会领导实践之间没有发现显着但负面的关联。国家所有权与ROA和ROE也有正相关关系。该模型非常适合，模型一（ROA）和模型二（ROE）的R平方值分别为84％和93％。研究结论认为，埃塞俄比亚股公司的公司治理做法不会在路上它应与为理由的企业经营环境的不断变化的风景线是选举产生，在公司工作的董事会缺少真正的独立和所需技能和知识。关于公司治理的意识差距;招聘和选拔方面的管理不善做法，缺乏最新的监管框架;由于缺乏具体的政策框架，国家原则和守则，导致无组织的治理实践得以实施。所有这些都引起了道德，披露和透明度，腐败，裙带关系，部落主义等问题，并且可以通过纳入可以显示外部公司治理实践和其他部门的变量来进一步扩展该研究。

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